These days, no classic car event or exclusive automotive gathering is complete without a high-profile auction. The world’s most valuable classics and modern supercars are either sold behind closed doors or offered at public auction—and business is booming.
When Mercedes sold its legendary 300 SLR Uhlenhaut Coupé three years ago, it wasn’t through a private negotiation but an ultra-exclusive auction held behind closed doors. The result? The most expensive car ever sold at auction—around €135 million. Potential bidders were hand-picked and thoroughly vetted. Things are more relaxed at RM Sotheby’s in Monterey—registration is all that’s required. This August marked the 28th edition of RM Sotheby’s flagship sale during Monterey Car Week, held at the Portola Hotel’s convention centre. And the results? More than satisfactory.
Surprisingly, the most expensive car wasn’t a vintage classic but a brand-new hypercar: a 2025 Ferrari Daytona SP3, which fetched $26 million, making it the most expensive new car ever sold at auction. Over two days, RM Sotheby’s achieved total sales exceeding $165 million. Bidders from 46 countries snapped up 87% of the lots, including 37 cars that sold for over $1 million and six that surpassed the $5 million mark. “Monterey has always been a stage for historic results, and this year will be remembered as one of our best,” said RM Sotheby’s president Gord Duff. “From the record-breaking Daytona SP3 to the stunning prices for the LaFerrari Aperta and the F40, I’m incredibly proud of our team.”
A clear trend is emerging: pre-war cars—and increasingly, those from the ’50s and ’60s—are struggling to command the attention they once did. RM wasn’t the only auctioneer to see once-coveted British, German, and Italian sports cars fall short of their estimates. Meanwhile, so-called ‘everyday’ models from the 1980s and ’90s are surging in popularity. How else to explain a 1991 Lancia Delta Integrale with low mileage going for $155,000—nearly double expectations? A 1995 Delta Evo achieved nearly $205,000 at a rival auction. Younger bidders, who don’t relate to pre-war machinery, are driving demand for cars that filled their childhood bedroom posters: Porsche 959, Mercedes 190 E 2.5-16, BMW M3. A 1992 Ferrari 512 TR fetched $700,000—again, nearly twice its guide price. By contrast, a pristine 1964 Aston Martin DB5 struggled to break $750,000 against a $825k–$950k estimate.
It was a similar story at Broad Arrow, part of the Hagerty group, who staged their sale inside an aircraft hangar. Auctioneers Lydia Fenet and Thomas Forrester led bids totalling nearly $58 million, with an 80% sell-through rate. The top lot was a 2005 Maserati MC12 Stradale, sold for $5.2 million. Reflecting the generational shift, Broad Arrow also focused heavily on modern collectables—Japanese icons and contemporary performance cars.
Gooding & Company (in partnership with Christie’s) were equally pleased with their headline Pebble Beach sale, achieving $128 million—up nearly 20% year-on-year, making it one of their most successful auctions ever. Their star car? A 1961 Ferrari 250 GT SWB California Spider Competizione, which sold for $25.3 million. “It was the most expensive car I’ve ever sold, and it set a personal record,” said Charlie Ross, Gooding’s principal auctioneer. “The winning bidder taught us all a masterclass in how to buy at auction—calm, decisive, and lightning fast.” Over the two days, 85% of the 153 cars sold, with around 30 lots crossing the $1 million threshold. The average price per car? $847,262.
As elsewhere, demand was strongest for newer classics and sports cars with standout provenance from the ’60s and ’70s. A 1973 Ferrari 365 GTB/4 Daytona Competizione Series III achieved $8.1 million, and a 1974 Ferrari Dino 246 GTS cleared the million-dollar mark.
But record prices aren’t exclusive to mega-events like Pebble Beach or Retromobile. In early 2025, a one-off auction at the Mercedes-Benz Museum in Stuttgart saw a historic streamliner race car—once driven by Juan Manuel Fangio and Stirling Moss—sell for €51.16 million, making it the most expensive race car of all time. “This chassis, number 00009/54, is absolutely unique,” explained Peter Haynes of RM Sotheby’s in London. “It simply didn’t belong at a conventional event. Even though the Indianapolis Motor Speedway Museum conducted the sale, this car is inextricably linked to Mercedes-Benz—so the museum in Stuttgart was the only fitting venue.”
